Appeal Details
Counselvise Citation
[2024] 100 COUNSELVISE.COM (IT) 2814 (ITAT-DELHI)
Assessee PAN
Bench
Appeal Number
Duration Of Justice
5 year(s) 6 month(s) 17 day(s)
Appellant
Respondent
Appeal Type
Income Tax Appeal
Pronouncement Date
24-04-2024
Appeal Filed By
Department
Order Result
Dismissed
Bench Allotted
I
Next Hearing Date
09-04-2024
Assessment Year
2012-2013
Appeal Filed On
07-10-2018
Judgement Text
IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “I” DELHI BEFORE SHRI CHALLA NAGENDRA PRASAD, JUDICIAL MEMBER AND SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER ITA No.4825/Del/2018 Assessment Year 2013-14 Spentex Industries Ltd. A-60, Okhla Industrial Area Phase-II New Delhi Vs. ACIT, Circle-24(1) New Delhi TAN/PAN: AABCS4997E (Appellant) (Respondent) CO No.178/Del/2018 Assessment Year 2014-15 Spentex Industries Ltd. A-60, Okhla Industrial Area Phase-II New Delhi Vs. ACIT, Circle-24(1) New Delhi TAN/PAN: AABCS4997E (Appellant) (Respondent) ITAs No.6455/Del/2018 Assessment Years 2012-13 DCIT, Circle-5(2) New Delhi Vs. Spentex Industries Ltd. A-60, Okhla Industrial Area Phase-II New Delhi TAN/PAN: AABCS4997E (Appellant) (Respondent) ITAs No.5077/Del/2018 Assessment Years 2014-15 ACIT, Circle-24(1) New Delhi Vs. Spentex Industries Ltd. A-60, Okhla Industrial Area Phase-II New Delhi TAN/PAN: AABCS4997E (Appellant) (Respondent) ITAs No.4825, 6455, 5077/Del/2018 & CO No. 178/Del/2018 2 Applicant by: None Respondent by: Shri Rajesh Kumar, CIT (DR) Date of hearing: 10 04 2024 Date of pronouncement: 25 04 2024 O R D E R PER PRADIP KUMAR KEDIA - A.M.: T he c a p t i o n e d A pp e a ls a nd C ro s s O b j e c t i on ha ve be en pr e f e r r e d b y th e a s s e s s e e a nd t h e R e ve n u e a ga i n s t t he re s p e c ti ve o r d e r s pa s s e d b y t he C I T ( A ) f or c a pt i o ne d a s s e s s me n t ye a r s a s ta b u lat e d be l o w : Sr. No. ITA/CO Nos. Appeal by A.Y. Pr.CIT Order dated Assessment Order dated Remarks 1. ITA No.4825/Del/2018 Assessee 2013-14 CIT(A)-31, New Delhi order dated 18.05.2018 Assessment order dated 25.03.2016 Assessment Order under section 143(3) of the Income Tax Act, 1961. 2 CO No.178/Del/2018 Assessee 2014-15 CIT(A)-44, New Delhi order dated 27.04.2018 Assessment order dated 18.11.2016 Assessment Order under section 143(3) of the Income Tax Act, 1961. 3. ITA No.6455/Del/2018 Revenue 2012-13 CIT(A)-17, New Delhi order dated 26.07.2018 Assessment order dated 17.03.2015 Assessment Order under section 143(3) of the Income Tax Act, 1961. 4. ITA No.5077/Del/2018 Revenue 2014-15 CIT(A)-44, New Delhi order dated 27.04.2018 Assessment order dated 18.11.2016 Assessment Order under section 143(3) of the Income Tax Act, 1961. 2. W h e n t h e a p pe a l s w e r e c a l l e d f o r he a r i n g, no ne ap pe a r e d o n be h a l f o f t he a s s e s s e e d e s p i t e no t i c e . E ve n , t h e re i s n o a p pli c a t i on s e e k i n g a dj o ur n m e n t . 3. I n v i e w o f t h e a f o re s a i d , w e p ro c e e d t o di s p o s e of t he a p p e a l s e x -p a rt e qu a t h e a s s e s s e e a f t e r he a r i n g l e a rn e d D e pa r t m e nt a l R e p r e s e n t a t i ve a n d ba s e d on t he m a t e r i a l s a va i l a bl e on re c o rd . It i s ob s e r ve d , c e r t a i n f i n a nc i a l c r e d it o r s o f t h e a s s e s s e e c o m pa n y f i le d ap p l ic a t i o n un d e r s e c t i on 7 o f th e In s o l ve n c y a n d B a n k r u p t c y C o de , 2 01 6 ( I B C ) s e e k i n g i ni t i a t i on of C o r p o ra t e In s o l ve n c y R e s ol u t io n P r o c es s ( C I R P ) a ga i n s t t he ITAs No.4825, 6455, 5077/Del/2018 & CO No. 178/Del/2018 3 a s s e s s e e be f o re th e N a ti o n a l C o m p a n y L a w T ri b u n a l (N C LT ) , s i nc e , t he a s s e s s e e h a d f a i l e d t o re p a y t he d e b t l i a b i li t y. P os t f il i n g of t h e p r e s e nt a pp e a l s , t h e N C LT p ri n c i p a l b e nc h , N e w D e l h i , ha s pa s s e d a n o r de r o n 03 - 01 -2 0 20 a d m i t t i n g t h e a p pl i c a t i o n of t h e f i na n c ia l c r e di t o rs a n d i ni t i a t i n g C IR P a ga i ns t th e a s s e s s e e . F u r th e r, u p o n a d m i s s i o n o f t he a pp l i c a ti o n o f t he f i n a n c i a l c re d i t o r s , m or a t o r i um un d e r s e c t i on 1 4 ( 1 ) o f t he IB C h a s b e e n i m p os e d . A c o p y of t h e a f or e s a i d ord e r o f l e a r n e d N C LT i s a va i l a b l e o n re c o rd . 4. T h us , i n vi e w of t h e m or a t o r i u m g ra n t e d b y N C LT , a l l p r o c e e d in g s i n a ny c o u r t o f l a w , T r i b un a l e t c . c a n n ot c o n ti n u e . T ha t be i n g t he po s i t i o n i n l a w , no u s e f u l p u r p o s e i s go i n g t o be s e r ve d i n k e e pi n g t h e a pp e a l s pe n d in g . T he r e f o r e , i n ou r vi e w , th e s e a p pe a l s ne e d t o be c o n s i gn e d t o t he r e c o r ds . 5. I n v i e w o f t h e a f o r e s a i d , w e d i s m i s s t h e s e a p pe al s i n l i m i n e . H o w e ve r, l i be r t y i s gr a n te d t o t he p a r ti e s t o s e e k r e vi va l of t h e a p pe a l s , i n c a s e , or d e r of N C LT is e i t he r r e ve r s e d o r m o di f i e d b y a n y hi g h e r j u d ic i a l A u t h o ri t y o r i f t h e re i s a n y c h a n ge in f a c t u a l o r le ga l po s i t i on or i f it i s ne c e s s a r y t o d o s o in t h e in t e re s t of t he p a rt i e s . 6. I n t h e r e s u l t , t h e c a p t i on e d a p p e a l s a r e di s m i s se d f o r s t a ti s t ic a l pu r po s e s . Order pronounced in the open Court on 25 th April, 2024. Sd/- Sd/- [CHALLA NAGENDRA PRASAD] [PRADIP KUMAR KEDIA] JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 25 th April, 2024 Prabhat Copy forwarded to: 1. Appellant 2. Respondent 3. CIT(A) 4. CIT 5. DR Assistant Registrar
